Terms & Conditions
PENNY PROFIT, LLC
TERMS OF SERVICE AND USER AGREEMENT
Last updated: September 12, 2023
PLEASE READ THIS AGREEMENT CAREFULLY. THIS AGREEMENT DEFINES THE RELATIONSHIP BETWEEN PENNY PROFIT, LLC AND ANY PERSON ACCESSING THE PENNY PROFIT, LLC WEBSITE MYPENNYPROFIT.COM AND/OR DOWNLOADING OUR MOBILE APPLICATION (“APPLICATION”) AND/OR CREATING A USER ACCOUNT AND/OR REGISTERING AND USING OUR SERVICES (hereinafter referred to as “You” or “Your” or “User”).
PLEASE BE ADVISED THAT THE TERMS OF SERVICE FOR THIS WEBSITE CONTAIN A BINDING ARBITRATION CLAUSE AS WELL AS A CLASS ACTION WAIVER AND JURY TRIAL WAIVER THAT IMPACTS YOUR RIGHTS FOR DISPUTE RESOLUTION. PLEASE READ THIS SECTION CAREFULLY IF YOU LIVE IN THE UNITED STATES.
IF ANY OF THE TERMS OR CONDITIONS OF THIS AGREEMENT OR TERMS INCORPORATED BY REFERENCE ARE UNACCEPTABLE TO YOU, DO NOT VISIT, ACCESS, OR USE MYPENNYPROFIT.COM OR THE APPLICATION.
Welcome to PennyProfit! This Terms of Service and User Agreement (the “Agreement”) explains how the services available on mypennyprofit.com (the “Site”) work and how they are used. The Service is brought to You by Penny Profit, LLC (“Penny Profit,” “PennyProfit,” “We,” “Us,” “Our”). PennyProfit provides an interactive platform that allows its users to save, store, split, pool, and send and receive money. The saving aspect can be accomplished as an individual or as a group (the “Platform”). Services refers to Your use of Our interactive Platform including, but not limited to, accessing the Site, creating an account, accessing Your account, linking Your account with financial services as well as any other products, features, tools, materials or other services offered from time to time by PennyProfit (the “Services”).
If You are accessing and using the Services on behalf of a company, You represent and warrant that You are authorized to bind the company and that You are accepting the Agreement on the company’s behalf. When used in the Agreement, “You” or “Your” will refer to you as an individual and to your company if you are accepting the Agreement on behalf of a company.
BY CREATING AN ACCOUNT, ACCESSING OR USING THE SITE, PLATFORM, OR SERVICES YOU AGREE TO BE LEGALLY BOUND BY THIS AGREEMENT AND ALL TERMS INCORPORATED HEREIN BY REFERENCE.
THE SERVICES
PennyProfit allows users to round up digital transactions of U.S. dollar amounts to the nearest dollar and automatically move those round-ups into a Jar. A Jar can be Private, which may only be accessed by way of invite, or Public, which may be accessed by anybody who performs a search from the PennyProfit marketing page or within the App itself. A Jar is classified as a digital container that houses and keeps track of digital money in the form of contributions. These contributions can be made manually as one-time contributions or automatically by way of round-ups. Round-ups are classified as the difference between the actual amount of a digital transaction and the nearest whole dollar. Additionally, a round-up may be set as a constant, specific amount that a user selects. These round-ups will automatically be moved into any Jar that a user has selected by way of a set percentage. A percentage may range anywhere from 0% up to 100%. A particular round-up may automatically be designated to move into one (1) Jar or multiple Jars at the same time. Any round-up that moves into multiple Jars at the same time will do so by way of “Splits.” A user may split a round-up anywhere from 0% to 100%. Splits may be adjusted at any time. No Jar may exceed an allocation split amount higher than 100%. Any round-up that is not allocated to a Jar will automatically be allocated to the Wallet. This entire process will occur each time a digital transaction takes place within a monitored financial institution. A financial institution will be considered monitored when it is toggled “On” for round-ups. A financial institution may have its monitoring status changed between “On” and “Off” at any time. All round-ups will be moved from the financial institution that is designated as the “Primary Account” regardless of which financial institution the transaction occurred from. The financial institution designated as the “Primary Account” may be changed at any time, but any financial institution designated as the “Primary Account” must be a depository account. The number of financial institutions that can be linked with PennyProfit will be determined by the Subscription Plan the user has selected.
At this time, the Services are only available for Users with depository accounts held by financial institutions that have a physical presence in the United States of America. PennyProfit looks forward to sharing the Services internationally in the future.
We expressly reserve the right to modify or make changes to Our Site, Application, Platform, or any of Our Services, temporarily or permanently, with or without notice to You. We are not obligated to continue to support or update Our Site, Application, Platform, or any Services. You agree that We are not liable to You or any third-party if We modify, change, or discontinue the Site, Application, Platform, or any of Our Services.
YOUR USER ACCOUNT
Eligibility. By opening an Account, You affirm that You are at least eighteen (18) years old and have the legal capacity to enter into this Agreement.
Account Access. You agree that You will not grant any person access to Your Account, except as described herein, granting access may violate applicable laws and regulations and may result in the immediate termination of Your Account.
Account Communication. You agree and understand that all communication with You will be by email. We will use the email address associated with Your Account as Our primary means of communication with You. You agree to keep Your email address up-to-date and immediately notify Us if there are any changes. We retain the right to deny access to the Platform and Your Account if You fail to provide and maintain a valid email address.
Required Account. Each User must have an Account in order to use the Services.
Account Closure. You may close Your Account at any time. Closing Your Account will not affect any rights and obligations incurred prior to the Account closure. You may be required to complete or cancel all open transactions. Open transactions may be classified as but not limited to: “Pending,” “Incomplete,” “Failed,” or “Disputed.” Subscription fees paid during the month of closure will not be refunded.
Account Type. You will have an account on the Platform showing You the amount of money You have saved from the Services (“PennyProfit Account”). Each User will also have at least one account that is connected to a depository account (“Primary Account”). The Primary Account is the account in which PennyProfit will use to transfer funds anytime a transfer occurs to or from an outside source. An outside source is classified as any financial institution that is not housed directly inside PennyProfit or owned directly by PennyProfit. Transfers may include withdrawals. A User may then connect accounts, such as a credit card account, checking account, or other actively used account (“Active Account(s)”) for PennyProfit to monitor for the transactions which PennyProfit will apply the Services. As Your Active Account(s) makes a transaction, PennyProfit will transfer to Your Penny Profit Account the amount You have designated to be saved from each transaction. It is the number of manual and automatic transactions, along with your round-up percentage and any amount set in your Auto Round-Ups or Income Round-Ups settings, in Your Active Account(s) that determines the amount You save in Your PennyProfit Account.
Adequate Funds. It is Your responsibility to ensure that Your Primary Account has adequate funds for the round-up amount You have designated to be saved from each purchase. PennyProfit is not responsible for determining if there are enough funds in Your Primary Account to
be transferred to Your PennyProfit Account. PennyProfit is also not responsible for any fees that may result from inadequate funds in Your Primary Account. Any fees that PennyProfit incurs from a failed transaction due to a lack of funds may be passed along to You as the user.
Failed Transactions. Any transaction that fails due to insufficient funds to cover the transaction, or other reasons, will immediately trigger a suspension (or “Pause” or “Pausing”) of Your PennyProfit Account. In order to have Your PennyProfit Account suspension removed, a balance-check will be performed on your Primary Account to ensure there is a minimum of $10.00 in the account. If there is a minimum of $10.00 in your Primary Account, then the suspension will be lifted and a $5.00 Failed Transaction fee will automatically be deducted from your Primary Account. If there is not a minimum of $10.00 in your Primary Account at the time the balance-check is performed, then the suspension of your PennyProfit Account will remain. A balance-check will be performed each time You attempt to remove the suspension a maximum of ten (10) times. If your Primary Account fails to show a minimum of $10.00 on the tenth balance-check, your PennyProfit Account will remain suspended permanently and you must contact PennyProfit Support directly via email at support@mypennyprofit.com in order to remove the suspension. As a courtesy, PennyProfit may choose to waive the $5.00 Failed Transaction Fee the very first time a failed transaction occurs. PennyProfit may choose to not waive any additional fees thereafter. PennyProfit may also choose to assess this Transaction Fee manually in the event that You do not attempt to remove the suspension within thirty (30) days from the time the suspension was initiated. The assessment of this fee may be in the form of a direct debit from your Primary Account.
Failed Subscription payment. In the event that any subscription payment fails due to insufficient funds, or other reasons, Your PennyProfit Account will immediately be suspended (or “Paused”). In order to have Your PennyProfit Account suspension removed, a balance-check will be performed on your Primary Account to ensure there is a minimum of $10.00 in the account. If there is a minimum of $10.00 in your Primary Account, then the suspension will be lifted and a $5.00 Failed Transaction fee, along with your current subscription amount, will automatically be deducted from your Primary Account. If there is not a minimum of $10.00 in your Primary Account at the time the balance-check is performed, then the suspension of your PennyProfit Account will remain. A balance-check will be performed each time You attempt to remove the suspension a maximum of ten (10) times. If your Primary Account fails to show a minimum of $10.00 on the tenth balance-check, your PennyProfit Account will remain suspended permanently and you must contact PennyProfit Support directly via email at support@mypennyprofit.com in order to remove the suspension. As a courtesy, PennyProfit may choose to waive the $5.00 Failed Transaction Fee the very first time a failed transaction occurs. PennyProfit may choose to not waive any additional fees thereafter. PennyProfit may also choose to assess this Transaction Fee manually in the event that You do not attempt to remove the suspension within thirty (30) days from the time the suspension was initiated. The assessment of this fee may be in the form of a direct debit from your Primary Account.
Disputed Transactions. If, at any time, there is a disputed transaction with PennyProfit or with an outside institution (including Your financial institution) for a transaction that occurred within Your PennyProfit Account, Your PennyProfit Account will immediately be suspended (or “Paused”) and the disputed amount will be removed from your Wallet and/or Jar balances. In order to have Your PennyProfit Account suspension removed, a balance-check will be performed on Your Primary Account to ensure there is a minimum of $25.00 in the account. If there is a minimum of $25.00 in Your Primary Account, then the suspension will be lifted and a $25.00 Disputed Transaction fee will automatically be deducted from Your Primary Account. If there is not a minimum of $25.00 in your Primary Account at the time the balance-check is performed, then the suspension of your PennyProfit Account will remain. A balance-check will be performed each time You attempt to remove the suspension a maximum of ten (10) times. If your Primary Account fails to show a minimum of $25.00 on the tenth balance-check, your PennyProfit Account will remain suspended permanently and you must contact PennyProfit Support directly via email at support@mypennyprofit.com in order to remove the suspension. PennyProfit may also choose to assess this Disputed Transaction Fee manually in the event that You do not attempt to remove the suspension within thirty (30) days from the time the suspension was initiated. The assessment of this fee may be in the form of a direct debit from your Primary Account.
Additionally, if You dispute a transaction that has already been transferred back to your Primary Account, Your PennyProfit Account will immediately be suspended (or “Paused”). In order to have Your PennyProfit Account suspension removed, a balance-check will be performed on Your Primary Account to ensure there is a minimum of $25.00 plus the total amount of the transaction that has been disputed in the account. If there is a minimum of $25.00 plus the total amount of the disputed transaction in Your Primary Account, then the suspension will be lifted and a $25.00 Disputed Transaction fee, along with the total disputed transaction amount, will automatically be deducted from Your Primary Account. If there is not a minimum of $25.00 plus the total disputed transaction amount in your Primary Account at the time the balance-check is performed, then the suspension of your PennyProfit Account will remain. A balance-check will be performed each time You attempt to remove the suspension a maximum of ten (10) times. If your Primary Account fails to show a minimum of $25.00 plus the total amount of the disputed transaction on the tenth balance-check, your PennyProfit Account will remain suspended permanently and you must contact PennyProfit Support directly via email at support@mypennyprofit.com in order to remove the suspension. PennyProfit may also choose to assess this Disputed Transaction Fee plus the total disputed amount manually in the event that You do not attempt to remove the suspension within thirty (30) days from the time the suspension was initiated. The assessment of this fee may be in the form of a direct debit from your Primary Account.
USE OF YOUR ACCOUNT
You acknowledge and understand that We are not giving investment advice, tax advice, legal advice, or other professional advice by allowing You to access and use the Site, Application, Services, or Platform. The Services on the Platform are provided on a strictly “as is,” “where is,” and “where available” basis.
Your use of and conduct on the Site, Application, Services, and Platform is subject to applicable laws and regulations. By creating an account, accessing or using this Site, Application, Services or the Platform You agree to be legally bound and adhere to this Agreement, all terms incorporated by reference, and applicable laws and regulations.
We grant to You a limited, non-exclusive, non-assignable, non-transferable license to access and use the Service, subject to Your agreement to and compliance with this Agreement. We reserve all rights not otherwise expressly granted by this Agreement.
Conditional Use. Access to the Platform and Your account are conditional upon the following representations and warranties: (1) all of the information You have provided to Us is truthful, accurate, and complete and will remain truthful, accurate, and complete; (2) You are not located in, under the control of, or a national or resident of any country to which the United States has embargoed goods or services; and (3) You agree to be solely responsible for maintaining the security of Your Account login credentials and other required forms of authentication.
You may use the Site and Application for non-commercial purposes, subject to the provisions of this Agreement to: (1) open an account to participate in Our Services; (2) participate in Our Services; (3) initiate requests to deposit money; (4) access statements regarding transactions in connection to Your account; (5) access and print or download copies of the current version of this Agreement and other documents relating to Our Services; (6) use the Site or Application in other ways as We expressly permit hereunder.
Prohibited Use. Your use of the Site, Application, Services, and Platform is conditioned upon Your compliance with the rules of conduct provided herein. Your failure to comply may result in termination of Your access to the Site, Application, Services, and Platform and You will be liable for any damages caused by Your noncompliance. You may not: (1) rent or sell the Service to a third-party; (2) copy or reverse engineer the Service, Site, Application, or Platform; (3) create derivative works of the Service, Site, Application, or Platform; (4) change or alter information, material, content, or notices in the Service, Site, Application, or Platform; (5) use a bot or other automatic process to harvest information, material, or content in the Service, Site, Application, or Platform; (6) introduce a virus or malicious code into the Service, Site, Application, or Platform; (7) use the Service, Site, Application, or Platform to violate a third-party’s intellectual property rights; (8) send advertisements or spam using or through the Service or Platform; (9) use any information, material, or content in the Service, Site, Application, or Platform to create a competing service; (10) engage in any activity including, but not limited to, sales or purchases that interfere with the ordinary and open operation of the Service, Site, Application, or Platform; (11) use, alter, add-on to, or connect PennyProfit, the Service, Site, Application, or Platform with another application programming interface; (12) use the Service, Site, Application, or Platform for unlawful or malicious activities, or for activities We deem improper for any reason whatsoever, in Our sole discretion, including but not limited to, laundering of proceeds of any unlawful activity,
financing terrorism, to commission fraud, harassing or making disparaging comments to any other user(s); or (13) engage in any activity that violates this Agreement or any applicable law or regulation.
In addition to the foregoing, while using Our Service, Site, Application, or Platform, You may not: (a) impersonate any person or entity, misrepresent Your association with any person or entity, or use or provide any fraudulent, misleading or inaccurate information; (b) defame, abuse, harass, stalk, intimidate, bully, threaten or otherwise violate the rights of others, including without limitation others’ privacy rights or rights of publicity; (c) access or use (or attempt to access or use) another user’s account without permission, or solicit another user’s login information; (d) “frame” or “mirror” any portion of the Service, Site, Application, or Platform; (e) send or otherwise post unauthorized commercial communications (such as spam); (f) engage in unlawful multi-level marketing, such as a pyramid scheme; (g) post content that is hateful, threatening, pornographic, incites violence, or contains nudity or graphic or gratuitous violence; (h) use or distribute any Content (defined below), including Content that has been verified or confirmed by You or anyone else, to directly or indirectly create or contribute to the development of any database or product; or (i) facilitate or encourage any violations of this Section.
Transaction Timing. You acknowledge and understand that due to the processing practices of individual financial institutions there may be a delay, possibly up to five (5) business days, before Your funds are processed for an external transaction or transfer. An external transaction refers to any transaction or transfer that occurs to or from another institution that is not PennyProfit or owned by PennyProfit. These transactions will remain in a Pending state until they have fully processed. Once processed, the transaction will show as Completed and will be available for use. Unless otherwise noted, most internal transactions and/or transfers will occur instantaneously. PennyProfit reserves the right to review, reverse, cancel, or place a hold on any transaction or transfer at any time for any reason. Any review that takes place may cause delays in processing.
Withdrawal Dollar Limits. You acknowledge and understand that withdrawals or transfers may only include amounts that have Completed and are no longer Pending. This will include all transactions showing in your Wallet and/or Jar Balances along with any transaction showing in your Activity or Jar ledgers. PennyProfit reserves the right to review, reverse, cancel, or place a hold on any transaction or transfer at any time for any reason. Any review that takes place may cause delays in processing. Transactions and transfers may include withdrawals.
Interest. You acknowledge and agree that Penny Profit is entitled to the interest generated by Your PennyProfit Account(s).
Use of Funds. PennyProfit is not responsible for how funds are used or generated and accepts no liability whatsoever for how funds are utilized, expended, shared, allocated, generated or spent by its users. You agree that You are solely responsible for how Your PennyProfit Account funds are used or generated. This includes, but is not limited to, any contribution amount that is made to any Jar that you may or may not Own. This also includes, but is not limited to, contributions that are made via credit cards, banks, credit unions, other financial institutions, the Wallet from other PennyProfit users, Jars from other PennyProfit users, etc. You acknowledge that contributions my come from authenticated PennyProfit users, non-authenticated PennyProfit users, as well as anonymous users.
Jars. PennyProfit provides its users the ability to create Jars, which can be used as a way to, among other things, save, store, or pool money together. The number of Jars that can be created will be determined by the subscription level the user selects. By default, Jars are set to Private, which means only the Creator of the Jar has the ability to make contributions to the Jar unless the Creator invites other users to join the Jar. Invites may be made to existing or non-existing PennyProfit users. If an invite is made to a non-existing PennyProfit user, the invitee will be required to create a PennyProfit account in order to accept the invite. For both existing and non-existing PennyProfit users, the invite will remain in a pending state until the invite is accepted or the Creator of the Jar cancels the invite.
If a Jar is set to Public, this means that both existing and non-existing PennyProfit users alike may find and contribute to the Jar without the need to be invited. Jars may be found by performing a search from the PennyProfit marketing page or directly from within the Application. All interactions, including, but not limited to, contributions, contribution amounts, Ownership status, and comments will be made visible to all who access the Jar. Authenticated PennyProfit users have the ability to make their contributions Anonymous by toggling “Anonymous” to “Off” in their Edit Jar modal.
Ownership status within a Jar is designated to three (3) levels: Creator, Owner, Contributor. Creator is the status given to the user who created the Jar. Among other abilities, this user has the ability to make manual and automatic contributions to the Jar, set and adjust a Split percentage, see the Jar balance as well as the total contributions made to the Jar, transfer funds away from the Jar, change the status of the Jar from Private to Public, edit the Jar Description as well as its image, change the Jar Goal amount, set and adjust a personal maximum contribution amount, make and edit comments, grant and revoke Ownership to other PennyProfit users, invite users to join the Jar as well as cancel pending invites, and remove users from the Jar. Ownership status grants all the same exact rights and privileges as the Creator of the Jar, with the exception of the ability to remove the Creator from the Jar. Contributors have the ability to make contributions to the Jar, set and adjust a Split percentage, set and adjust a personal maximum contribution amount, see the total contributions made to the Jar, as well as leave and edit their comments.
Contributions. Contributions can be made to a Jar either as a one-time lump-sum amount or by way of automatic contributions. Lump-sum contributions can be made directly through a credit card, directly through a user’s Primary Account, or from any Available balance (listed as “Completed” and no longer “Pending”) in a user’s Wallet or Owned Jar. Automatic contributions will be made directly from a user’s Primary Account. These contributions will be made either through the traditional round-up method when a transaction occurs, through the Auto Round-Up feature, or through the Income Round-Up feature. Automatic contributions will allocate the split percentage set for each Jar accordingly. The traditional round-up will calculate the difference between the total amount of a transaction and the nearest whole dollar. The nearest whole dollar amount is the default setting for the traditional round-up. Users also may set a constant amount, which will remain the same for every transaction. Should a user choose to have both options toggled “On” at the same time, the constant amount selected will be applied on top of the nearest whole dollar amount. The Auto Round-Up will allow users to select a specified amount to be rounded up on a weekly or monthly basis whether a transaction occurs or not. These round-ups will continue to occur unless toggled “Off.” All Split percentages will be applied accordingly with the Auto Round-Up. The Income Round-Up will allocate a specified percentage amount of funds that move into the user’s Primary Account to automatically be moved into PennyProfit. User’s have the ability to set a maximum amount of that income to be moved into PennyProfit. All Split percentages will be applied accordingly with the Income Round-Up. Once toggled “On,” The Income Round-Up will continue to occur unless toggled “Off.”
Splits. The Split feature allows users to allocate different amounts of a round-up to go to different Jars at the same time. Split percentages can be set to a minimum of 0% and a maximum of 100%. The total percentage of the Split may not exceed 100% for all Jars combined. Split percentages may be adjusted at any time in the Edit Jar modal. Any percentage that is not allocated to a Jar will automatically go to the Wallet. In the event that a round-up amount cannot be split evenly into a whole amount (a penny cannot be split, for instance), the calculation will round down and allocate the remainder amount to the Wallet. For instance, if Jar A and Jar B each have a split percentage of 50%, a $0.31 round-up will round down to $0.30 to be split evenly between the two Jars and the remaining $0.01 will be allocated to the Wallet.
AGREEMENT
These Terms of Service and User Agreement (“Agreement”) constitutes a legally binding agreement between You and PennyProfit. You are responsible for regularly reviewing this Agreement. You can view the most current version of this Agreement by visiting Our Site or Application. By using Our Site and/or Application, You acknowledge that You have read this Agreement and accept, understand, and agree to be bound by these terms and conditions.
INTELLECTUAL PROPERTY
All text, marks, videos, graphics, user interfaces, visual interfaces, photographs, copyrights, trademarks, logos, service marks, derivatives, sounds, artwork, trade dress, algorithms, functionalities, features, computer code, including but not limited to, the design, structure, and arrangement of the content on Our Site and Application, and all other intellectual property rights therein (collectively referred to as “Content”). PennyProfit’s Site, Application, and Content shall at all times remain the sole and exclusive property of PennyProfit and are owned and licensed to
Us and are protected by the copyright, trademark, trade dress, and various other intellectual property laws and treaties. You have no right, title, security interest or any other interest in, including but not limited to, PennyProfit, the Service, the Application, the Platform and any of Our source code except for the limited rights to use the Site and Application. No part of Our Site, Application, Service, Platform, or Content may be copied, reproduced, republished, posted, publicly displayed, translated, or distributed in any way.
We grant to You a limited, non-exclusive, non-assignable, non-transferable license to access and use the Service, subject to Your agreement to and compliance with this Agreement. The license granted to You pursuant to this Agreement is solely for Your personal use, not for resale or redistribution, and may not be used for any other purpose. You agree not to reverse engineer, decompile, or translate Our Content in any way. The Content on Our Site and Application may not be copied, modified, republished, assigned, sole, distributed by You, and You may not prepare any derivatives based on Our Content. You have no right to the Content or any ideas found on Our Site or Application. No ownership rights are granted to You hereunder and no title is transferred to You hereunder. All rights, title, and interest in the Content shall belong to PennyProfit or Our Affiliates. We reserve all rights not otherwise expressly granted by this Agreement.
TERMINATION
This Agreement is effective until You or We terminate it. You may terminate this Agreement at any time by discontinuing Your use of the Service. We may terminate this Agreement at any time and for any reason without prior notice to You, and accordingly, We may deny You access to the Service. Termination of this Agreement will not affect any right or relief to which We are entitled at law or in equity. Upon termination of this Agreement, You must terminate all use of the Service and any information or materials that have been provided to You. The terms and conditions in this Agreement that by their nature and context are intended to survive any termination of this Agreement will survive such termination and will be fully enforceable thereafter. You will not be refunded any subscription amounts.
We may report Your fraudulent activity or a breach of this Agreement to the relevant law enforcement authorities and We will cooperate with those authorities by disclosing Your identity to them. In the event of Your fraudulent activity or breach of this Agreement, as determined at Our sole and absolute discretion, Your right to use Our Service will cease immediately, and We may modify, reduce or withhold Your funds, if any, until final resolution or adjudication of such an action. We reserve the right to use any funds in Your PennyProfit account to compensate for losses that PennyProfit may incur due to actions on Your part.
SUBSCRIPTIONS AND BILLING
Subscription. Your PennyProfit account requires a monthly fee in order to access. The Standard subscription is three dollars ($3.00) and the Premium subscription is five dollars ($5.00). We offer access to the Premium subscription free for Your first month. After the first month, Your subscription fee will automatically be deducted from your Primary Account in the amount that corresponds with Your selected subscription plan. By utilizing our Services, you authorize PennyProfit to automatically debit your Primary Account for the subscription amount each month. Your subscription amount will automatically be debited until your cancel your PennyProfit Account. You have the option to pause your Account for up to six (6) months without incurring a subscription fee. Your Primary Account will automatically be debited You subscription amount at the end of the sixth (6th) month period. You may only pause your account one (1) time per year. Users on the Premium subscription have the option to pay the subscription fee with money already in their PennyProfit Account. Five dollars ($5.00) will automatically be deduced from the user’s Wallet each month to cover the subscription fee if the Round-Up Plus toggle is turned “On.” In the event that there are not enough funds in the Wallet to cover the subscription fee, the Primary Account will then automatically be debited the subscription fee. The Services may include different offerings and features, with different benefits, conditions, and limitations. You can find the specific details about Your subscription at any time by logging into Your Penny Profit Account. Because the Services are offered in multiple time zones, for consistency, a “day” for purposes of this Agreement begins at 12:00 a.m. Pacific Standard Time of that same calendar day.
We reserve the right to change the terms of Your subscription, including price, from time to time, effective as of the beginning of Your next billing period following the date of the change. If We change the subscription fee or other charges for Your subscription, We generally will give You advance notice of these changes. However, We will not be able to notify You of changes in any applicable taxes.
Billing. The monthly subscription fee will be withdrawn from Your Primary Account. You are expressly agreeing that We are authorized to charge You a periodic subscription fee on a recurring basis corresponding to the term of Your subscription, any other fees for additional services You may purchase, and any applicable taxes in connection with Your use of Your subscription to the Payment Method. If You want to use a different Payment Method than the one You signed up to use during registration, or if there is a change in Your Primary Account’s validity or expiration date, You may edit Your Payment Method information by logging into Your account and viewing Your account details. When You provide a Payment Method to access a subscription, including in connection with a free trial offer, Our system will attempt to verify the information You entered. We do this by processing an authorization hold, which is standard practice. We do not charge You in connection with this authorization hold. If Your Payment Method expires and You do not edit Your Payment Method information or cancel Your account, You authorize Us to continue billing, and You will remain responsible for any uncollected amounts.
Users on the Premium subscription have the option to pay the subscription fee with money already in their PennyProfit Account. Five dollars ($5.00) will automatically be deduced from the user’s Wallet each month to cover the subscription fee if the Round-Up Plus toggle is turned “On.” In the event that there are not enough funds in the Wallet to cover the subscription fee, the Primary Account will then automatically be debited the subscription fee.
As used in these Terms, “billing” shall indicate either a charge or debit, as applicable, against Your Payment Method. The subscription fee will be billed at the beginning of Your subscription or expiration of Your free trial period, if any, whichever is earlier, and on each periodic renewal date thereafter unless and until You cancel Your subscription or the account or service is otherwise suspended or discontinued pursuant to these Terms. To see the commencement date for Your next renewal period, log into Your account.
In the event that any subscription payment fails due to insufficient funds, or other reasons, Your PennyProfit Account will immediately be suspended (or “Paused”). In order to have Your PennyProfit Account suspension removed, a balance-check will be performed on your Primary Account to ensure there is a minimum of $10.00 in the account. If there is a minimum of $10.00 in your Primary Account, then the suspension will be lifted and a $5.00 Failed Transaction fee, along with your current subscription amount, will automatically be deducted from your Primary Account. If there is not a minimum of $10.00 in your Primary Account at the time the balance-check is performed, then the suspension of your PennyProfit Account will remain. A balance-check will be performed each time You attempt to remove the suspension a maximum of ten (10) times. If your Primary Account fails to show a minimum of $10.00 on the tenth balance-check, your PennyProfit Account will remain suspended permanently and you must contact PennyProfit Support directly via email at support@mypennyprofit.com in order to remove the suspension. As a courtesy, PennyProfit may choose to waive the $5.00 Failed Transaction Fee the very first time a failed transaction occurs. PennyProfit may choose to not waive any additional fees thereafter. PennyProfit may also choose to assess this Transaction Fee manually in the event that You do not attempt to remove the suspension within thirty (30) days from the time the suspension was initiated. The assessment of this fee may be in the form of a direct debit from your Primary Account.
FINANCIAL INSTITUTION ACCESS
By connecting Your depository account (the “Primary Account”) to Your PennyProfit account you are expressly agreeing that PennyProfit is authorized to debit Your Primary Account in amounts corresponding with Your account settings and any other fees for additional services You may purchase, and any applicable taxes in connection with your use of your account.
UNPAID AMOUNTS
It is important that each User honor the payment obligations to which the User agreed. Accordingly, We reserve the right to retry billing Your Primary Account after failed attempts. We also reserve the right to pursue amounts You fail to pay in connection with Your Account. You will remain liable for all such amounts and all costs incurred in connection with collection of these amounts, including, without limitation, bank overdraft fees, collection agency fees, reasonable attorneys’ fees, and arbitration or court costs.
PRIVACY OF INFORMATION
Services offered through PennyProfit’s Site or Application require You to create an account and set up a profile by providing personally-identifiable information, including but not limited to, Your name, social security number, address, email address, financial information, bank account information, and any other information required to complete transactions under Our Site or Application. You agree to update Your information provided to Us so that it is accurate, current, and complete. We reserve the right to terminate Your account if We reasonably suspect that You have provided Us with inaccurate or incomplete information.
We are committed to protecting Your privacy and Our privacy policy (“Privacy Policy”) is incorporated herein and explains how We use and protect Your personal information and data. Any and all personal data provided to Us will be processed in accordance with Our Privacy Policy. By accepting this Agreement, You also give Your consent for the processing and use of Your personal data in accordance with Our Privacy Policy.
It is Your sole responsibility to maintain the confidentiality of Your username and password. You agree to notify Us immediately if there is any unauthorized use of Your username, password, or account. PennyProfit is not responsible for any losses due to the unauthorized use of Your account and You agree to indemnify and hold harmless PennyProfit, its management, members, officers, equity holders, employees, partners, parents, subsidiaries, agents, affiliates, licensors, or any other person or entity affiliated with Us (collectively referred to as “Affiliates”) for any improper, unauthorized, or illegal uses of Your account and as otherwise set forth in this Agreement.
THIRD-PARTY WEBSITES/SERVICES
Third parties may provide or facilitate links, tools, widgets, or other features that allow You to access other sites or services (“Third-Party Resources”). These Third-Party Resources are provided solely as a convenience to You and based upon Your account information or the content You elect to view. PennyProfit does not control and is not responsible for and does not endorse the content of Third-Party Resources, including any products, information, or materials contained therein. You need to use Your own independent judgment regarding Your interaction with these Third-Party Resources. Some of the content served by Us will be from merchant sites, and sales through these sites may generate a commission payable to Us. We accept no responsibility for reviewing changes or updates to, or the quality, content, policies, nature or reliability of third-party web sites, including, without limitation, Third-Party Resources and websites linking to the Site or Application.
BINDING ARBITRATION OF CLAIMS
In the event there is an issue, We want to make the resolution process as quick and efficient as possible. You agree to first discuss the issue informally for at least thirty (30) days with Us. To do that, please send Your full name, and contact information, Your concern and Your proposed solution by mail to PennyProfit at 13856 S. Mary Loraine Cir. Herriman, Utah 84096 Att: Legal Department. If We would like to discuss an issue with You, We will contact You using the email address You provided when You created Your account.
If We do not reach an agreed upon solution after Our discussions for at least 30 days, You agree that any and all claims that either of Us may have arising out of or relating to: (1) these Terms (including formation, performance, or breach of them, and including the scope and enforceability of this arbitration provision), (2) the Privacy Policy, which is incorporated in
these Terms; (3) any aspect of Our relationship with each other, and (4) use of the Services, Site, Application, or Platform must be resolved through binding arbitration before the American Arbitration Association (“AAA”).
PennyProfit will not be liable for any direct, indirect, punitive, incidental, special, or consequential damages or any damages whatsoever including, without limitation, damages for loss of use, data or profits, arising out of or in any way connected with the content and use or performance of the Site or Application, with the delay or inability to access or use the Site or Application, the provision of or failure to provide services, or for any content, software, products and services made available or obtained through the Site, Application, or use of the Services or Platform, whether based on contract, tort, negligence, strict liability or otherwise.
Any services or content made available or obtained through the use of the Site or the Application, and all other use of the Site or Application is done at Your own discretion and risk and You will be solely responsible for any damage to Your computer system or loss of data that results therefrom.
Each party shall pay its own attorneys’ fees and costs arising out of the arbitration and shall pay an equal share of the fees and costs of the Arbitrator and AAA; however, the Arbitrator may award the prevailing party reimbursement of its reasonable attorneys’ fees and costs and/or other fees and costs of the Arbitrator.
The Arbitrator shall issue a written award within fifteen (15) days after the conclusion of arbitration which describes the material factual findings and conclusions that the award is based upon, including the calculation of damages awarded. Each party shall fully perform and satisfy the arbitration award within fifteen (15) days of the award being issued. Judgment of the award may be entered by any court of competent jurisdiction.
By agreeing to this binding arbitration clause, You understand that You are waiving certain rights and protections which may be available to You if a claim or dispute were determined by the court system, including, without limitation, the right to seek or obtain certain types of damages which are precluded by this arbitration provision, the right to a jury trial, certain rights of appeal, the right to bring a claim as a class member in any purported class or representative proceeding, and the right to invoke formal rules of procedure and evidence.
INDEMNIFICATION
You agree to indemnify and hold PennyProfit and any of its Affiliates harmless for claims or suits arising out of: (1) Your breach of this Agreement, including but not limited to, any intellectual property or copyright infringement by of a third-party’s rights by You; (2) Your fraudulent, malicious, misuse, or abuse of the Site, Application, and/or Services; or (3) Your violation of applicable laws, rules, or regulations in connection with Your use of the Site, Application, Platform, or Services.
YOU AGREE TO INDEMNIFY AND HOLD PENNY PROFIT, ITS THIRD-PARTY VENDORS, ITS AFFILIATES, INCLUDING THEIR DIRECTORS, OFFICERS, EMPLOYEES, AND AGENTS, HARMLESS FROM ANY AND ALL CLAIMS AND
DEMANDS, INCLUDING BUT NOT LIMITED TO, REASONABLE ATTORNEY’S FEES, MADE BY A THIRD-PARTY DUE TO OR ARISING OUT OF ANY CONTENT SUBMITTED, POSTED, OR OTHERWISE PROVIDED BY YOU TO PENNYPROFIT AND/OR THIRD-PARTY ADVERTISERS AND ANY BREACH BY YOU OR YOUR AFFILIATES, EMPLOYEES, AGENTS, AND REPRESENTATIVES OF ANY PROVISIONS OF THIS AGREEMENT.
WARRANTIES AND DISCLAIMERS
Your Warranties. You represent and warrant to PennyProfit that (a) all information that You provide to Us is accurate and truthful; (b) You have the authority to share information with Us and to grant Us the right to use that information as provided in this Agreement and Our Privacy Policy; (c) Your use of the Site, Application, and/or Services does not violate any applicable law or other contract or obligation to which You are a party or are otherwise bound; and (d) any information You provide to Us or post on the Site or Application does not infringe on the intellectual property right of any person or entity.
Disclaimer of Warranties. THE SITE AND APPLICATION ARE PROVIDED “AS IS”, “WITH FAULTS”, AND “AS AVAILABLE”. PENNYPROFIT AND ITS AFFILIATES AND THEIR RESPECTIVE MANAGING MEMBERS, OFFICERS, DIRECTORS, EMPLOYEES, AND THIRD-PARTY SUPPLIERS DISCLAIM ANY AND ALL REPRESENTATIONS, WARRANTIES, OR GUARANTEES OF ANY KIND, WHETHER EXPRESSED, IMPLIED OR STATUTORY, INCLUDING BUT NOT LIMITED TO, (1) AS TO TITLE, MERCHANTABILITY, FITNESS FOR ORDINARY PURPOSE, AND FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT; (2) THE QUALITY, ACCURACY, TIMELINESS, OR COMPLETENESS OF THE SITE AND APPLICATION AND THEIR CONTENT; (3) THOSE ARISING THROUGH COURSE OF DEALING, COURSE OF PERFORMANCE, OR USAGE OF TRADE; (4) THE SITE AND APPLICATION AND THEIR CONTENT CONFORMING TO ANY FUNCTION, DEMONSTRATION, OR PROMISE BY PENNY PROFIT OR ITS AFFILIATES; (5) THAT ACCESS TO OR USE OF THE SITE, APPLICATION, OR CONTENT WILL BE UNINTERRUPTED, ERROR-FREE, OR COMPLETELY SECURE.
ANY RELIANCE UPON THE SITE, APPLICATION, AND THEIR CONTENT IS AT YOUR OWN RISK AND PENNYPROFIT MAKES NO WARRANTIES. PENNYPROFIT RESERVES THE RIGHT TO RESTRICT OR TERMINATE YOUR ACCESS TO THE SITE OR APPLICATION OR ANY FEATURE THEREOF AT ANY TIME AT OUR SOLE DISCRETION. IF YOU DOWNLOAD THE APPLICATION OR ANY CONTENT FROM THE SITE, YOU DO SO AT YOUR OWN DISCRETION AND RISK. YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR MOBILE DEVICE OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY SUCH CONTENT.
You acknowledge and agree that Your reliance on the information available on the Site or Application or through use of the Services and Your interactions with other users through the Services is SOLELY AT YOUR OWN RISK.
The Services may be subject to limitations, delays, and other problems associated with the use of the Internet, mobile devices, and electronic communications. PennyProfit is not responsible for any delays or other damages resulting from such problems. We do not guarantee that the Site, Application, Services, or Platform will be operable at all times. We reserve the right to do any of the following, at any time, without notice to You: (1) to modify, suspend or terminate operation of or access to the Site, Application, Services, and Platform, or any portion of the Site or Application; (2) to modify or change the Site, Application, Services, and Platform or any portion of the Site, Application, Services, or Platform, and any applicable policies or terms (except as described in the Privacy Policy); and (3) to interrupt the operation of the Site, Application and/or provision of Services or Platform, or any portion of the Site, Application, Services, or Platform as necessary to perform routine or non-routine maintenance, error correction, or other changes.
IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SITE, THE APPLICATION OR THEIR RESPECTIVE CONTENT, OR WITH ANY OF THESE TERMS AND CONDITIONS UNDER THIS AGREEMENT OR OUR PRIVACY POLICY, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USING THE SITE AND UNINSTALL THE APPLICATION.
MISCELLANEOUS TERMS
Headings. All headings are solely for the convenience of reference and shall not affect the meaning, construction or effect of this Agreement.
Revisions to this Agreement. PennyProfit reserves the right to, from time to time, revise these Terms and Conditions contained in this Agreement in its sole and absolute discretion. Any modifications or changes to this Agreement are in force and enforceable immediately upon posting. Any updated or edited version supersedes any prior versions immediately upon posting, and the prior version is of no continuing legal effect unless the revised version specifically refers to the prior version and keeps the prior version or portions thereof in effect. Your continued use of Our Site and/or Application and/or Account after such revision represents Your acceptance of the revised Agreement without modifications unless such modifications are approved by Us in writing and signed by an authorized representative.
If You fail to periodically review this Site and Agreement to determine if any of the terms have changed, You assume all responsibility for Your failure to do so and agree that such failure amounts to Your affirmative waiver of Your rights to review the amended terms.
No Relationship Created by Agreement. You agree that no joint venture, partnership, employment, or agency relationship exists between You and PennyProfit as a result of this Agreement or by accessing or using Our Site, Application, Platform, or Services. PennyProfit’s performance under this Agreement is subject to existing laws and legal process, and nothing contained in this Agreement is in derogation of PennyProfit’s right to comply with governmental, court, and law enforcement requests or requirements relating to Your access or use of the Site and/or Application.
Assignment. You may not assign any of Your rights or obligations under this Agreement. We may assign Our rights and privileges under this Agreement, which include Your User registration, without Your consent in connection with a merger, acquisition, corporate reorganization, or sale
of all or substantially all of Our assets, or to an Affiliate, or in connection with a change in control. Subject to the foregoing, this Agreement shall bind and inure to the benefit of the parties, their respective successors and permitted assigns.
Entire Agreement. This Agreement, together with Our Privacy Policy, constitutes the entire agreement between the parties with respect to Your access and use of the Site, Services and the materials contained therein, and Your use of the Site and Services. This Agreement, together with Our Privacy Policy, supersedes and replaces all prior understandings or agreements, written or oral, regarding such subject matter.
Severability. If for any reason a court of competent jurisdiction or an arbitrator finds any provisions of this Agreement, or any portion thereof, to be invalid, unenforceable or illegal, such invalidity, unenforceability or illegality shall not affect the remainder of this Agreement.
Governing Law. This Agreement, Your use of the Site, Your rights and obligations, and all actions contemplated by, arising out of or related to this Agreement shall be governed by the laws of the State of Utah, as if this Agreement is a contract wholly entered into and wholly performed within the State of Utah.
Other Jurisdictions. PennyProfit makes no representation that the Site, Services or any of the materials contained therein are appropriate or available for use in other locations, and access to them from territories where their content or function may be illegal or is otherwise prohibited. Those who choose to access the Site and Services from such locations do so on their own initiative and are solely responsible for determining compliance with all applicable local laws.
Survival of Terms. The terms and conditions of this Agreement will continue for as long as You access and use Our Site, Application, Platform, and/or Services. The Sections titled “Intellectual Property”, “Warranties and Disclaimers”, “Binding Arbitration of Claims”, “Governing Law”, “Indemnification”, and this section shall survive any termination or expiration of this Agreement.
CONTACT US
If You have any questions or concerns regarding this Agreement, the Site, or the Service, please contact Us at support@mypennyprofit.com.
